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FIFO Date 2/1 Transactions Begin Inventory ENDING PURCHASES: COST OF MDSE SOLD: INVENTORY BALANCE: INVENTORY...

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Accounting

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FIFO Date 2/1 Transactions Begin Inventory ENDING PURCHASES: COST OF MDSE SOLD: INVENTORY BALANCE: INVENTORY Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost BALANCE 5 $50 $250 $250 2/7 Purchases 3 $45 $135 5 3 $50 $45 $250 $135 $385 2/12 Purchases 2 $48 $96 2 2/17 Sold 2 units 2/25 Purchases 5 50 $250 2/26 Sold 7 units 2 Purchases $45 $90 2/28 EOM FIFO Inventory Value: LIFO Date 2/1 Transactions Begin Inventory ENDING PURCHASES: COST OF MDSE SOLD: INVENTORY BALANCE: INVENTORY Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost BALANCE 5 $50 $250 $250 2/7 Purchases 3 $45 $135 5 3 $50 $45 $250 $135 $385 2/12 Purchases 2 $48 $96 2/17 Sold 2 units 2/25 Purchases 5 50 $250 2/26 Sold 7 units 2 $45 $90 2/28 Purchases EOM LIFO Inventory Value: Lower of Cost or Market: Market LCM LCM Method: Commodity: Lead Lead Lead Lead Quantity in Ounces 1 oz. 7 oz 12 oz 2 oz Cost Market Extended: Price Price Cost $932.00 $945.00 $890.00 $903.00 $894.00 $892.00 $902.00 $900.00 Totals: Ending Inventory Value

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